The Exchange has now completed its demutualisation process, having received all the requisite approvals from the Securities and Exchange Commission (SEC) and Corporate Affairs Commission (CAC).
A new non-operating holding company, the Nigerian Exchange Group Plc (‘NGX Group’) has been created with three operating subsidiaries, namely: Nigerian Exchange Limited (‘NGX’), the operating exchange; NGX Regulation Limited (‘NGX REGCO’), the independent securities regulator; and NGX Real Estate Limited (‘NGX RELCO’), the real estate company.
This marks a critical and historic milestone for the Exchange as it enables us to execute on our strategic vision to be Africa’s premier exchange hub. Stakeholders, including our new valued shareholders, will benefit from The Group’s enhanced Corporate Governance, access to capital to fund strategic developments, and a more globally competitive Exchange.
The Group has now activated a comprehensive Transition Plan, taking the Group and its subsidiaries through to full Operational Launch, which covers all legal and practical changes to enable the functioning of the new corporate structure, with no loss of service and a seamless transition for market participants.
